Indemnities Limited Liability Sample Clauses

The "Indemnities; Limited Liability" clause defines the responsibilities of each party to compensate the other for certain losses or damages, while also setting limits on the amount or types of liability each party may face under the agreement. Typically, this clause specifies scenarios where one party must cover the costs arising from third-party claims, breaches, or negligence, and may exclude liability for indirect or consequential damages. Its core function is to allocate risk between the parties, ensuring that each side understands their financial exposure and protecting them from excessive or unforeseen liabilities.